Boeing’s goal of putting its 787 Dreamliner in the air once more will require extensive testing before regulators will end the plane’s being grounded, said the FAA’s Administrator Michael Huerta, who explained, in the most detailed comments thus far on Boeing’s presentation of February 22nd, that it should be a very comprehensive proposal featuring multiple alterations created to address every possible cause of battery incidents that grounded the plane.

During the fourth quarter, short (“underwater”) sales of American homes, saw a greater number than did than foreclosure deals as lenders upped their efforts to dispose of troubled properties, according to RealtyTrac, which estimated that the amount of short sales reached 337,000, which was up by 14 percent year-over-year, and comprised roughly 33 of all residential transactions in the quarter.

Reuters is reporting that Caterpillar will slash 1,400 jobs at a plant in Belgium. A spokesperson for the firm at the Gosselies site explained that this is due to a new industrial plan which has so far not been approved.

The oil giant has conducted a successful output test on the St. Malo PS003 well lying in the rich Lower Tertiary trend in the deepwater Gulf of Mexico. Oil flow rates are limited by testing equipment constraints, but were in excess of 13,000 barrels per day. The Jack and St. Malo fields are being jointly developed with a host floating production unit, located between the two fields that are planned to have a design capacity of 177,000 barrels of oil-equivalent per day to handle production from the Jack/St. Malo development. Output is estimated at a maximum total daily rate of 94,000 barrels of oil-equivalent, along with production from third-party tiebacks. Aggregate project costs for the beginning phase of the development are projected at $7.5 billion. Chevron has a working interest of 51 percent in the St. Malo field, which other owners are Petrobras (NYSE:PBR) with 25 percent, Statoil (NYSE:STO) with 21.5 percent, Exxon Mobil Corporation (NYSE:XOM) and ENI with 1.25 percent apiece.